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23 Feb 2019 World leisure: news, training & property
 
 
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22 Jan 2019

ClassPass acquires Asian aggregator GuavaPass
BY Tom Walker

The acquisition will result ClassPass now operating in more than 80 markets across 15 countries

The acquisition will result ClassPass now operating in more than 80 markets across 15 countries

Fitness subscription service ClassPass acquired GuavaPass, a fitness aggregator operating in Asia and the Middle East.

ClassPass will take over GuavaPass' operations in 11 cities across the two regions, including Abu Dhabi, Bangkok, Beijing, Dubai, Hong Kong, Mumbai and Singapore.

GuavaPass founders Jeffrey Liu and Rob Pachter will join the ClassPass team, along with some of the GuavaPass top team.

The move is part of ClassPass’ strategy to expand its international presence and comes six months (July 2018) after the company secured US$85m (€72.5m, £64.5m) worth of series D financing from private equity giant L Catterton and Singapore-based investment company Temasek.

Following the deal, GuavaPass will cease operations in markets where ClassPass is already available. In markets where ClassPass hasn't got an active presence, GuavaPass brand will continue to operate under the ClassPass umbrella "until further notice".

“The GuavaPass deal will continue our strategy to build the biggest fitness membership for our customers, and the largest global network for our partners," said ClassPass CEO Fritz Lanman.

"This transaction will accelerate our robust growth trajectory as we continue expanding throughout Asia and the Middle East."

The acquisition will result ClassPass now operating in more than 80 markets across 15 countries. The company is already planning further expansion and has announced plans to launch "in at least 50 new markets" in 2019.

“ClassPass is already the leading fitness aggregator in the US,” said Chloe Ross, ClassPass VP of International.

“We’re doubling-down on our international expansion efforts with no intentions of slowing down in 2019."



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